Indian
Indices: Asian markets opened flat after witnessing good gains on Monday as
fall in US futures saw caution prevail with the Japanese Yen seeing gains
against the US greenback to hit 112.2. European stocks were the real
outperformers as the Euro hit 112 against the US Dollar which lifted
sentiment to a near 3 year high for the Euro zone.

Nifty saw one sided trade as mid-caps witnessed huge profit booking
while select large-caps witnessed buying to lift the Sensex into gains while
the broader markets underperformed. ITC, HUL and L&T were the top gainers
while PSU banks, Financials and Pharma stocks were under huge pressure as we
head into Thursday expiry for derivative contracts.

The BSE
Sensex is currently trading at 30423.96, down by 147.01 points or 0.48% after
trading in a range of 30388.49 and 30610.64. There were 11 stocks advancing
against 19 stocks declining on the index.The broader indices were trading in
red; the BSE Mid cap index was down by 1.95%, while Small cap index was down
by 2.25%.

The CNX Nifty is currently trading at 9395.05, down
by 43.20 points or 0.46% after trading in a range of 9374.20 and 9448.05.
There were 17 stocks advancing against 34 stocks declining on the index.

MARKET
INDICATORS

·

Group ATopGainers

Company

Price (Rs)

% chg

DBcorp

369.00

2.32

Maruti

6834.00

2.01

Wipro

525.70

0.96

JkLakshmi

478.75

1.01

Group ATopLosers

VIdeoind

64.80

-20.00

DEN

89.30

-8.32

Sunpharma

595.20

-7.04

Adanient

113.05

-6.65

INDEX
PERFORMANCE

Indices

Support

Resistanes

Sensex

30480

30680

Nifty

9410

9480

Technical view: Nifty will find support around 9390/9400 on the
downside while 9500 will act as resistance on the upside. Bank Nifty also
finds strong support around 22558 while 22850 will act as resistance on the
upside.

ONGC May
FUT (Sell Below 177 with Stop Loss at 181 for Target of 170): The stock has
been witnessing selling pressure for the past three weeks and it has further
broken below the double bottom low of Rs 178. This indicates a fresh
breakdown on the daily charts extending the lower top lower bottom cycle.
ONGC has also broken below its long term 200-DMA and is sustaining below the
same further accentuating our bearish stance on the stock.

Derivative Snippets

Lupinhas received approval from the
Central Drugs Standard Control Organisation (CDSCO) for Bepotastine tablets
used in the treatment of patients suffering from allergic symptoms.

In the last trading session, markets
ended on a negative note dragged by PSU Banks. Bank Nifty 23000CE added fresh
short positions, indicating a likely close below 23000 level for May F&O
expiry contracts. Nifty 9500CE continued to remain under the selling
pressure. Implied volatility of index option surged higher, indicating a
rising fear in the market.

FIIs were net sellers in cash market
segment to the tune of Rs 321 Cr.FIIs index future long short ratio at 1.9x
vs 2 x.

Nifty Movers: The top
gainers on Nifty were Maruti Suzuki up by 2.48%, ICICI Bank up by 1.22%,
Wipro up by 1.14%, Eicher Motors up by 1.08% and Hindustan Unilever up by
0.87%. On the flip side, Sun Pharma down by 7.08%, AurobindoPharma down by
5.02%, Cipla down by 4.24%, GAIL India down by 3.95% and Lupin down by 2.41%
were the top losers.

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were IT up by 0.25%, Auto
up by 0.16% and TECK up by 0.05%, while Healthcare down by 3.43%, Realty down
by 2.45%, Utilities down by 2.25%, Consumer Durables down by 2.06% and Power
down by 1.92% were the losing indices on BSE.

Top of Form

Bottom of Form

Bottom of Form

On the global front: On the global front, Asian shares were trading
mostly in red, after a deadly explosion at a concert venue in Manchester was
said to be a terror attack. Japanese manufacturing activity expanded at the
slowest pace in six months in May as export orders slowed, in a warning sign
that global demand may be weakening.